Check in Markets Illegal - Expert
The Ministry of Economy and Industry (MEI), starting from the next morning after the administrative devaluation of the national currency, informs on the punishment of retail sale outlets, which were found to make "artificial increase in prices and consumer fraud." Experts believe that the actions of the agency are contrary to law.
The Chairman of the Center for Civic Initiatives Gubad Ibadoglu noted that any legal basis for the "crusade" against the retail outlets does not exist. "The laws of the AR "On antimonopoly activity" and "Consumer Protection" include no rules that allow the government’s regulatory bodies to conduct such monitoring of retail prices for the abuse. This rate is applicable only to those entities that have a dominant position in some types of goods.
The economist calls on the State Service for Antimonopoly Policy and Consumer Protection under the MEP to suspend such confrontation with small and medium enterprises and to seek subjects who manipulate prices in the consumer market. It's enough to analyze the import, wholesale and retail prices for some goods. As the data of the State Customs Committee say, between imported and retail prices of many food products included in the consumer basket, there is a big difference.
Thus, experts agree that in order to stabilize prices in the consumer market, among other regulatory measures, pressure should be exerted on companies engaged in import and wholesale of goods, and not on retail sales facilities, which are already under pressure of tax bodies. -------08B
Economics
-
The market for vegetable and animal fats in Azerbaijan is largely shaped by a structural dependence on imports, as domestic production remains insufficient to meet the country's growing consumption needs. This dependency is underscored by several economic factors, including limited agricultural production and a lack of processing facilities, leaving the sector ill-prepared to reduce reliance on foreign supplies.
-
The INMerge Ventures venture capital fund has been established in Azerbaijan, aimed at boosting the development of the country’s innovative and startup ecosystems, officials announced on Tuesday.
-
Azerbaijan is set to roll out a comprehensive digital economy development strategy in 2025, aimed at transforming the country's economy through human capital development, innovation, and the digitalization of business processes, an official announced on Tuesday.
-
Issues related to the development of the energy sector through digital innovations were the subject of negotiations between Rovshan Najaf, President of SOCAR, and Seita Hagihara, President and Vice President of Yokogawa Electric Corporation, a leading Japanese multinational company specializing in electrical engineering and industrial automation.
Leave a review